Thrivent Financial for Lutherans Cuts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Thrivent Financial for Lutherans lowered its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 3.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 385,634 shares of the company's stock after selling 13,723 shares during the period. Thrivent Financial for Lutherans owned 0.20% of L3Harris Technologies worth $81,229,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LHX. TrinityPoint Wealth LLC raised its position in shares of L3Harris Technologies by 6.1% in the 3rd quarter. TrinityPoint Wealth LLC now owns 3,126 shares of the company's stock worth $744,000 after acquiring an additional 181 shares in the last quarter. MAI Capital Management grew its stake in shares of L3Harris Technologies by 6.4% in the 3rd quarter. MAI Capital Management now owns 28,785 shares of the company's stock worth $6,847,000 after buying an additional 1,732 shares during the last quarter. Quest Partners LLC grew its stake in shares of L3Harris Technologies by 36,000.0% in the 3rd quarter. Quest Partners LLC now owns 361 shares of the company's stock worth $86,000 after buying an additional 360 shares during the last quarter. Pathstone Holdings LLC grew its stake in shares of L3Harris Technologies by 3.3% in the 3rd quarter. Pathstone Holdings LLC now owns 57,912 shares of the company's stock worth $13,775,000 after buying an additional 1,844 shares during the last quarter. Finally, Prospera Financial Services Inc grew its stake in shares of L3Harris Technologies by 13.7% in the 3rd quarter. Prospera Financial Services Inc now owns 43,115 shares of the company's stock worth $10,257,000 after buying an additional 5,185 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

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L3Harris Technologies Stock Performance

Shares of LHX stock traded down $1.74 on Friday, reaching $208.15. The stock had a trading volume of 1,931,912 shares, compared to its average volume of 921,848. The stock has a market cap of $39.07 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a 50 day simple moving average of $209.80 and a 200 day simple moving average of $226.20.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a $1.20 dividend. This is a boost from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Monday, March 10th. L3Harris Technologies's dividend payout ratio (DPR) is currently 60.99%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LHX. Morgan Stanley cut their price target on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft cut their price target on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating on the stock in a research note on Thursday, January 2nd. Raymond James downgraded L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 2nd. Royal Bank of Canada reiterated a "sector perform" rating and set a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, Truist Financial cut their target price on L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $261.40.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,373 shares of the firm's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,098 shares of company stock valued at $1,760,588. 0.72% of the stock is owned by company insiders.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.